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  • Writer's pictureAnustup Kundu

Bank of Baroda Introduced a Short Term Deposit Scheme bob 360

News Desk, News Nation 360 : One of the top public sector banks in India, Bank of Baroda (Bank), has announced the introduction of the Bob 360 Deposit Scheme, a unique short-term retail deposit programme with interest rates as high as 7.60% p.a. for 360 days, plus 0.50% p.a. for senior citizens (7.10% p.a. for 360 days and 7.60% for senior citizens) where amongst large banks, the most attractive ratesbeing offered to depositors to fixed deposits of less than 1 year maturity. The scheme applies to retail deposits up to Rs 2 crore and starts on January 15, 2024. New and current Bank of Baroda clients can open bob 360 accounts through any bank's branches nationwide, and online FDs can be opened through the bank's Net Banking (bob World Internet) portal. Current users can also use the mobile app (bob World) to open an online FD. Joydeep Dutta Roy, Executive Director, Bank of Baroda said that For depositors seeking higher interest rates and guaranteed returns for a shorter duration, bob 360 is a great option. In addition, bob 360 will assist the Bank in controlling its cost of deposits and growing its portion of short-term Retail Term Deposits.

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